A new research study highlighting the future prospects of 3D printing market has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report titled “3D Printing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”, the Global 3D Printing Market is likely to reach US$ 32 bn in revenues by 2025.
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According to the report, there is a lot of interest in 3D printing, owing to its advantage over conventional manufacturing technologies. While it is true that 3D printing still remains in its early stage, considering the potential it holds, a number of investors are looking at this market positively. Advanced in 3D printing technology is likely to spawn a new era of manufacturing, and it is quite possible that many existing manufacturing procedures can become obsolete.
Demand for 3D printing products and technology is higher in commercial sector, as compared to personal sector. Demand is likely to be influenced by wide ranging applications across industries. Fuel deposition modelling is currently the most widely used technology globally, and it is projected that low cost of FDM will continue to boost its adoption across manufacturers. 3D printing is most proliferated in consumer electronics industry. By regions, North America continues to be the most lucrative market, whereas Asia Pacific is likely to offer growth opportunity to manufacturers.
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Commercial uses of 3D printing have enabled manufacturers to mass produce and mass customize products. Producing thousands of products at a quick pace can be possible with the use of 3D printing. Of particular significance is the global automotive sector, where 3D printing can be used for making gearboxes, shafts, brakes, and spare parts. Although commercial uses remain the largest consumers of 3D printing, demand is likely to steadily increase in the personal segment as well.
The APAC 3D printing market is likely to attract the attention of investors, as there are a number of manufacturing hubs in the region. China and India have been the manufacturing hubs owing to easy availability of cheap labor, however, as disposable incomes have increased over the years, the manufacturing costs have also gone up. This has necessitated the use of manufacturing technologies, such as 3D printing. It is highly likely that 3D printing market in APAC will surpass US$ 8 bn in revenues by 2025.
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